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San Antonio partnerships that lost 652 apartment units in bankruptcy accuse finance company of fraud
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A Terravista Corp. partnership that formerly owned the 308-unit Westwood Plaza Apartments at 2600 Westward Drive, San Antonio, has sued a New York finance company for fraud.Google
Four San Antonio partnerships sought refuge in bankruptcy two years ago to stop foreclosure actions on their apartment complexes.
The partnerships, Terravista Corp. affiliates, weren’t able to hang on to the properties through the bankruptcy process. They ended up selling them to a Los Angeles nonprofit for what Terravista says was a “fire sale” price almost $42 million combined in a deal the court approved last year.